Argo do, however, agree with Glass Lewis’ conclusion that the company has, “delivered TSR performance that is in-line with peers or, alternatively, considerably outperformed relative to peers over the last three and five years.”

Concurrently, and also in a statement released today, Voce says Glass Lewis affirms its views on several of Argo’s “inferior” corporate governance practices and the need for change at the company, specifically regarding Argo’s corporate expenses and Board oversight.

“Glass Lewis also endorsed many of the ideas to unlock shareholder value at Argo that Voce has presented. In reaching its conclusion that shareholders should back Voce’s case for change at Argo,” Voce’s statement reads.